European Union: FIFA has lost our trust despite withdrawing its investment project

UEFA has stated that FIFA President Gianni Infantino has lost the “trust” of European football, despite his withdrawal of a plan that would have allowed private-sector investors to acquire stakes in commercial activities linked to the World Cup, following a wave of global rejection.

In a statement, UEFA said: “The current leadership of FIFA has not only lost the trust of UEFA, but has also lost the trust of many other parties within the football family.”

UEFA was at the forefront of opponents to FIFA’s plan, which aimed to raise up to $4.2 billion, based on an evaluation of the company “FIFA Forward Enterprises” at approximately $20 billion.

The proposed commercial entity was slated to manage major tournaments, including the World Cup and the Club World Cup.

Although UEFA welcomed the withdrawal of the proposal, which was unanimously rejected alongside other continental federations “whose mission is to protect football,” it did not soften its criticism of FIFA President Infantino.

The statement noted that Infantino, 56, broke the promises he made when he ran for the FIFA presidency in 2016, most notably the commitment to “transparency” and the assurance that “FIFA’s money is your money (the member associations’), not the FIFA President’s money.”

UEFA added: “He has failed to honor these two promises.” It continued: “The opaque deal, orchestrated behind closed doors and attempted to be imposed, was far from transparent. With financial reserves exceeding $5 billion, he has also failed to use the member associations’ money in a manner that serves the interests of the game.”